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Formal bids for Man Utd takeover to be submitted next week, early favourite revealed

Manchester United are set to receive formal bids for a takeover next week, according to The Daily Mail.

The Red Devils have had a fine season under manager Erik ten Hag. They are currently in a strong position to finish in the top four and have the chance to win the Carabao Cup this month.

This is probably the right time for the Glazers to look into a potential sale and it is reported that formal bids will be submitted next week amid interest from Asia, Middle East and the United States.

While the Glazers are deemed to be eyeing £6 billion to £8 billion for a sale, it is claimed that they may have to settle for much less, having already benefitted from a higher share value lately.

United’s stocks are almost at a record high at the moment following the Glazers’ announcement to explore a possible sale back in November last year. The club are currently valued at £3bn.

Hence, bids in the region of £4bn are likely on the cards and it is reported that British billionaire Sir Jim Ratcliffe is the early front-runner to take control of the club from the Glazers.

The Raine Group, who oversaw Chelsea’s ownership change from Roman Abramovich last year, are currently tasked with the job of selecting the right buyer for the Red Devils.

Manchester United need the right owner/consortium

The Raine Group did a splendid job in picking Clearlake Capital Group as Chelsea’s new owners.

The Blues have had a dreadful Premier League season so far but their ambition is quite clear, having spent a staggering £600 million on players since last summer’s transfer window.

The west London giants have signed several young talents with huge potential and the club could be a force to reckon with in the coming seasons with the quality in the squad.

United need similar investment to take them to the next level such that they can regularly compete for the league title. In Ten Hag, they have an ideal manager to groom young stars.

Aside from squad investment, Old Trafford requires a fresh makeover. It could cost a staggering £2bn for a complete renovation. The new owner/consortium must be willing to spend on the same.

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